- March 25, 2021
Why You Should Never Start Just One Business
When you’re ready to start a business, that’s probably exactly what you’ll be thinking of; a business. Not more than one. Certainly not many. Yet there are so many great reasons to become a ‘serial entrepreneur’ that it’s definitely worth considering. Starting one business is impressive, but creating lots of companies is where the fun – and the profits – really begin. Read on to find out more.
You Won’t Be Bored
Being bored may actually be bad for your health, and it’s certainly not something that many people would choose if they had the chance. When you run more than one business, your life will never be boring. You’ll always have something to do, and even if you have a team of people to work for you in each business you own, you’ll still need to be involved, and that’s exciting – there will be plenty for you to get involved with.
Equally, by starting businesses and then moving on to another when you have a good team behind you, you will improve your work-life balance. This is something that Wayne Blazejczyk ASIC understands well; he has many different jobs in many different businesses but always finds time for hockey because he knows how vital the work-life balance really is.
Starting one business can bring you a good income. But what if something were to go wrong and that business had to close, or the income you received was reduced significantly? This would have a serious impact on your life and could cause many financial problems.
When you have more than one business, you will be more financially secure. If one company were to suffer somehow, you would still have others to provide you with the income you need to live your life in the way you want to. Essentially, you would be spreading the risk and therefore minimizing the risk that inherently comes with being an entrepreneur.
Using Your Skills
We all gain plenty of valuable skills as we go through life, and although you might be particularly good at one thing, that doesn’t mean you don’t have other skills that you can put to good use. When you run a number of different businesses, you can use all those skills and not waste any of your talents. You won’t be wasting your education either.
It’s terrible to let personal experience and knowledge go to waste, especially if it could benefit other people. By starting more than one business, you can ensure that everything you know is used in some way.
You’ll Become Better at It
The more you do something, the better at it you will become. This is as true of business as it is of anything else, and the more businesses you start and run, the more successful each one will be. Not only can you ensure that any future businesses run in the right way, but you can also go back and improve the ones you’ve already started so that each one is as good as the next. This is something you can continue to do ad infinitum, and in the end, all your businesses will be highly successful because of the care and attention you give each one.